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Sensex at record high, Nifty above 11,000
July 13, 2018
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MUMBAI: The benchmark BSE Sensex touched an all-time high of 36,699.53 points on Thursday, tracking gains in the Asian markets. The previous record level of the Sensex was of 36,443.9 points on January 29, 2018.

In line with its bullish trend in Indian stock markets, the wider Nifty50 on the National Stock Exchange closed above the 11,000 mark (11K).

Nifty50 closed at 11,023.20 points — higher by 74.90 points or 0.68 per cent - from its previous close of 10,948.30 points.

The barometer 30-scrip Sensex, which had opened at 36,424.23 points, closed at the record level of 36,548.41 points — up by 282.48 points or 0.78 per cent —from its previous session’s close of 36,265.93 points.

Sensex has touched an intra-day high of 36,699.53 points and a low of 36,422.08 points. The BSE market breadth, however, was bearish with 1,472 declines against 1,169 advances.

In another major development, market capitalisation (m-cap) of Reliance Industries reached Rs695,102.97 crore or $100 billion during the day, the second Indian company to reach the level after Tata Consultancy Services (TCS).

The top gainers on the Sensex were Reliance Industries, Wipro, HDFC, Larsen and Toubro (L&T) and Hindustan Unilever whereas Vedanta, Infosys, Tata Motors (DVR), Mahindra and Mahindra (M&M) and Bajaj Auto were the losers.

On the NSE, Reliance Industries, BPCL and Bajaj Finance were the highest gainers while UPL, Vedanta and Bajaj Auto lost the most.

In the Asian markets, investor sentiments were boosted after reports said China and the US might resume talks to ease the ongoing trade tensions.

REALTY INVESTMENT

Private equity investors invested around $4.9 billion or Rs33,700 crore in the Indian real estate market during the January-June period of 2018, a Knight Frank report said here on Wednesday.

Factors such as implementation of the Real Estate (Regulation and Development) Act and the Benami Transactions (Prohibition) Amendment Act, infrastructure status to affordable housing projects, relaxation of norms to encourage Real Estate Investment Trust listings among other encouraged investments into the sector, the report said. “In the first six months of 2018, $4.9 billion (Rs 33,700 crore) has been invested across 31 deals with an average investment per deal of $158 million (Rs 1,080 crore),” it said.

In 2017, private equity investment in the Indian real estate sector reached $8.6 billion, it added.

The report also said that in the coming years, there is a “greater probability that we may witness a blip in the annual PE (private equity) investments” as the assets that were transacted between January, 2016 and March, 2018 in the big ticket deals have a long gestation period and would take more than a decade to mature and become operationally efficient.

In the office space market, private equity investment was $2,784 million during the first six months of 2018, it said.

Meanwhile, Reliance Industrial Infrastructure Limited (RIIL) reported a 4.4 per cent rise in net profit for the first quarter ending June at Rs192 lakh. 

Indo-Asian News Service

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